Soyabean prices plunged by Rs 22.50, or 1.16 per cent, to Rs 1,915 per quintal after traders reduced their positions amid weak exports demand.
Increased supplies in the spot market put pressure on the soyabean prices in futures trade. On the National Commodity and Derivatives Exchange, soyabean delivery for July contract dipped by Rs 22.50, or 1.16 per cent, to Rs 1,915 per quintal, with an open interest of 99,540 lots.
The most-active August contract also traded Rs 21 or 1.08 per cent lower at Rs 1,923 per quintal, with an open interest of 1,08,640 lots.
Market analysts said weak exports demand weighed on the soybean prices at futures market here, triggered by offloading of positions by traders.
Besides, increased supplies at the physical markets from the producing regions and sluggish demand also influenced the trading sentiment, they added.